Tron active addresses hit 350k: Trailing Bitcoin and Ethereum
- Tron rivals Ethereum for the second position in the number of active blockchain addresses.
- Tron price recovery stalls above the initial support at $0.0140 but buyers remain in the driver’s seat.
Tron has continuously marketed itself as a worthy alternative to Ethereum and other smart contract building platforms such as EOS and NEO. On April 27, Tron blockchain recorded a significant growth in the number of active addresses. The active addresses hit 356k, only 13k behind Ethereum (ETH) whose addresses stood at 369k. However, Bitcoin still leads in the number of active addresses at 762k.
#Tron #blockchain recorded its highest number of active addresses since launch on April 27 with 356k active addresses. Just 13k from overtaking no 2 #Ethereum's 369k, but still a long way from King #Bitcoin
— Misha Lederman (@mishalederman) April 27, 2020
Top 3 chains:
1. #BTC: 762k
2. #ETH: 369k
3. #TRX: 356k
PS. I use all 3 pic.twitter.com/EPt6sYU5qF
Tron price technical picture
At the of writing, Tron is trading at $0.0144 and still fighting the seller congestion at the 38.2% Fibonacci retracement level taken between the last swing high at $0.02685 to a swing low at $0.007342. Buyers have control over the price despite them being unable to clear the resistance. For instance, the MACD is in the positive region and bullish divergence from it still encourages the buyers to stick to the market and focus on higher milestones at the 200-day SMA ($0.0169). On the downside, initial support is formed at $0.0140 while other key support areas include the 50-day SMA ($0.0123), $0.0120 and $0.0100.
TRX/USD daily chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
